Automated trading versus discretionary trading

This is a discussion on Automated trading versus discretionary trading within the General Trading Chat forums, part of the Reception category; My experience to date suggests automated works well on currencies, due to the nature of the 24 continuous market without ...

My experience to date suggests automated works well on currencies, due to the nature of the 24 continuous market without disruption and manipulation.The indices are in a highly manipulated market with disruptions of intraday closes/wall street opening hours , and restrictions on falls in the indices.

Automated trading has loads of advantages whereas discretionary trading has loads of disadvantages.

Advantages
1)No need to monitor markets and watch screen, trades are placed automatically
2)No greed , fear and discipline problems, software doesn't suffer from these problems
3)No money management or positive expectancy shortcomings, MM and PE are precoded in system.
4)No need to look for trade parameters i.e entries, exits ,stops,and trade management i.e tsl , b/e etc is done automatically by software.
5)Can manage multiple strategies,set ups and instruments simultaneously.Sometimes as many as 20 set ups are traded simultaneously , using different systems.
6)Computer does not need to go for no 1 or 2 or breakfast lunch and dinner, and often missing great trading decisions
7)Computer is not distracted by wife, children, phone calls,postman ,neighbours etc
8)operates 24 hours a day without a trade time nap
9)Doesn't require alcoholic beverages during trade time
10) Strategies can be backtested and forward tested without committing real money, only if strategies are profitable is real money employed.
11)highly complex method can be precoded.

Disadvantages

1)Discretionary traders can see a better view of set ups whereas automated trading is limited view based on rules coded .This applies to exits,entries and trade management.

Haven't you ever noticed when really bad news comes out , indices don't go lower,they rally.Christmas time window dressing by fund managers, only benefit is to earn higher bonuses by managers , at a time when markets should be heading lower.

The biggest manipulation was $700bn tarp fund, without it the indices would have crashed to S and P at 300.Oh and all those limit barriers to stop the market falling, but no limit barriers to stop the markets from rising.

Dax wants to go higher at 12 pm . but it can't and waits for Wall street to open.If the currency markets want to go higher , it will just do it without waiting for wall street to open.

You have managers controlling what price the market should be.Try doing that on a trillion dollar a day market, even Goldman would go bust trying to manipulate it.

Knowing what i know about trading really well. I really cannot see how one could develop a system that does it all for you automatically.

Once you get to the major leagues as a discretionary player, the elite level of trading, the fun is in the fill, & your ability to enter & exit at the right prices for near maximum profits. So why would you want to stop this in order to be some jelly belly flump who sits on the couch watching while their computer do the work.